Health insurance renewal refers to renewing your health insurance coverage in order to continue receiving the benefits of the policy. Your health insurance plan, like anything else, has a validity term of a year or longer depending on the policy or insurance provider, and you must renew it before the policy ends to continue receiving unrestricted and continuous benefits. If you fail to renew your insurance on time, it may lapse. In such instance, you may forfeit all accumulated benefits, including the waiting period and NCB. Furthermore, if you obtain a new health plan, you may be required to pay a high premium.
You may renew your insurance on the official webpage of your insurer or through PayBima. Health insurance renewal coverage takes only a few minutes if you do it online. Though you may renew your insurance using both online and offline channels, most individuals choose to do it online these days. This is because the online option is secure, time efficient, and cost effective. It also gives the insured the choice of employing several payment methods.
Whether you renew your health insurance coverage online or offline, the main thing is to do it on time in order to continue receiving benefits. Read about the major advantages of renewing your insurance plan online with PayBima.
